TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

HMRC Issue List of Tax Avoidance Schemes they Regard as Ineffective

In a somewhat unusual move, HMRC have published details of six tax planning mechanisms which they are monitoring and are prepared to challenge.

The six schemes are:

  • CT relief claims in respect of goodwill, where companies acquire businesses carried on prior to 1 April 2002 by a related party.
  • VAT Schemes in connection with the leasing of pleasure craft.
  • “Artificial” surpluses on pension schemes.
  • Employment related liabilities and losses.
  • Certain trust arrangements to secure deferral of PAYE and NIC.
  • Certain arrangements relating to Employer-Financed Retirement Benefits Schemes.

HMRC list of avoidance schemes is reproduced below at 2.04